LatinNews Daily - 19 October 2022

*Mexico-based telecommunications giant América Móvil has released its third quarter financial results, showing a 13.7% jump in quarterly profits compared to the third quarter of 2021. The company posted net profits of M$17.97bn (US$896m) in Q3 2022, compared to M$15.81bn in the same period of 2021. America Móvil’s earnings before interest, taxes, depreciation and amortization (EBITDA) reached M$83.21bn, up 2.3% from last year, while total revenue increased 1.8% to M$214.47bn. The company noted that it had added 2.9m wireless subscribers in the third quarter. America Móvil said it was operating 5G in 64 Mexican cities at the end of Q3. The company has previously said it plans to roll out its 5G coverage in 120 cities throughout Mexico by the end of 2022.

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